01:07 PM
Thursday 17 February 2022
I wrote – Sherine Salah:
The price of gold jumped today, Wednesday, in Egypt, during trading, and the gram increased by 9 pounds, compared to its level in the morning, due to the rise of the metal on global stock exchanges, according to Naguib Naguib, former Secretary General of the Gold Division at the Cairo Chamber of Commerce, to Masrawy.
The price of a gram of gold rose 3 pounds at the beginning of today’s trading, and continued to rise in the middle of trading, bringing the value of the increase to 12 pounds during today’s trading so far.
Najib expected the continued rise in gold prices during today’s trading.
Hani Milad, head of the Gold Division at the Cairo Chamber of Commerce, told Masrawy that some consumers have tended to buy gold and bullion artifacts to keep them as a safe haven during the period of gold rising to significant levels in the past days.
Milad added that the price of gold in the local market during the coming period is dependent on the price on global stock exchanges, and the political tensions between Russia and Ukraine during the coming period.
The demand for gold and jewelry in Egypt increased during the past year by 42%, compared to 2020, driven by the decline in the price of gold globally and economic recovery, according to data from the World Gold Council.
The volume of demand for goldware in Egypt during the past year amounted to 27.9 tons, compared to 19.7 tons in 2020, an increase of 42%.
During the fourth quarter of 2021, the demand for goldsmiths in Egypt increased by 15% to record 6.8 tons, compared to 5.9 tons in the same quarter in 2020, driven by a significant decline in the price of gold globally during this period.
Gold prices today
14 karat gold prices rose to 550 pounds per gram.
And the price of 18 karat gold rose to 707 pounds per gram.
And the price of 21 karat gold increased to 825 pounds per gram.
The price of 24 karat gold rose to 943 pounds per gram.
gold pound price
The price of the gold pound rose to 6600 pounds, and the price may vary from one dealer to another, and this price is equal to the value of gold in the pound, and its price is linked to the prices of a gram of 21 karat.
The price of gold today globally
The global price of gold rose in the middle of today’s session, Thursday, to $ 1885 an ounce, an increase of 0.83%, at 12:38 pm, according to Bloomberg Agency data.
And you can follow up on gold prices today and around the clock through this service from Masrawy: gold prices